HomeMy WebLinkAboutResolution - 032477M - Consent To Fixed Base Operator Agreement - Quasar Inc Et Al. - 03_24_1977KJ:bsb 4060019 M
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the MAYOR of the CITY OF LUBBOCK, BE and is hereby authorized and
directed to execute for and on behalf of the CITY OF LUBBOCK a Consent to
Fixed Base Operator Agreement between the CITY OF LUBBOCK and Quasar, Inc.,
attached herewith which shall be spread upon the Minutes of the COUNCIL and
as spread upon the Minutes of this COUNCIL shall constitute and be a part of
this Resolution as if fully copied herein in detail.
Passed.by_the City Council this 24tWay of March 1977.
ROY BASS7, MAYOR
ATTEST:
Treva Phillips, Cit Secretary -Treasurer
APPROVED AS TO FORM:
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THE STATE OF TEXAS (
COUNTY OF LUBBOCK ) C O N S E N T
WHEREAS, the City of Lubbock, as Lessor, and QUASAR, INC.,
(now known as Avtech Aviation, Inc.), as Lessee, made and entered
into that certain Fixed Base Operator Agreement or Lease Agreement
dated September 25, 1975, covering and affecting two (2) 3.535 acre
tracts of land out of Section 28, Block A, Lubbock County, Texas,
reference to which lease is hereby made for all lawful purposes,
which document is not to be filed for record in the Deed Records
of Lubbock County, Texas;
WHEREAS, the City of Lubbock, as Lessor, and Avtech Aviation,
Inc., as Lessee, made and entered into that certain Fixed Base
Operator Agreement or Lease Agreement dated
covering and.affecting a 1.61 acre tract of land out of Section 28,,
Block A, Lubbock County, Texas, reference to which lease is hereby
made for all lawful purposes, which document is not to be filed for
record in the Deed Records of Lubbock County, Texas;
WHEREAS, Avtech Aviation, Inc. executed and delivered to,
Broadview.Construction Co. that certain Builder's & Mechanic's
Lien (with Power of Sale) Note dated in the
principal sum of $187,150.00, payable as described in said note,
and which note is secured by the liens described below;
WHEREAS, Avtech Aviation, Inc., as Owner, and Broadview
Construction Co., as Contractor, made and entered into that certain
Builder's & Mechanic's Lien Contract (with Power of Sale) dated
providing for construction of an airplane
hanger building and other improvements upon a 1.61 acre tract and a
0.91 tract of land out of said Section 28, Block A, Lubbock County,
Texas, and providing for a mechanic's and materialman's lien and
deed of trust lien to secure payment of the above described Builder's
& Mechanic's Lien Note;
WHEREAS, Broadview Construction Co. may transfer and assign'
said Builder's and Mechanic's Lien and Builder's and Mechanic's
Lien Contract (with Power of Sale) to a Bank or some other financial
institution in order to furnish the interim financing for the
construction of the improvements called for in said Builder's
& Mechanic's Lien Contract;
WHEREAS, Avtech Aviation, Inc. proposes to close a permanent
loan with a Bank or a Savings and Loan Association or some other
financial institution payable in monthly installments, which loan
shall be made in renewal and extension of the balance due and owing
on the above mentioned Builder's & Mechanic's Lien note and the liens
securing payment of same;
WHEREAS,. as additional security for the payment of the above
mentioned permanent loan and performance of all of the terms and
conditions of the deed of trust securing the payment of such permanent
loan, Avtech Aviation, Inc. may transfer and assign to the lender
by an Assignment of Lessee's Interest in Lease all of the leasehold
estate of Avtech Aviation, Inc. in and to said 1.61 acre tract and
0.91 acre tract of land;
WHEREAS, Article IV, Section A of the above mentioned Fixed
Base Operator Agreement dated September 25, 19.75 and Article ,
Section of the above mentioned Fixed Base Operator Agreement
dated provides that .the Lessee shall not
assign, transfer, pledge or otherwise alienate such lease agreement
or any interest therein without the prior written consent of the
City of Lubbock;
NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS:
THAT for and in consideration of the sum of TEN DOLLARS ($10.00)
paid by Avtech Aviation, Inc. to the City of Lubbock, the receipt
of which is hereby acknowledged, and in consideration of the,premises,
the undersigned City of Lubbock does hereby consent to the execution
and delivery of all of the above described documents and to a Transfer
and Assignment of said Fixed Base Operator Agreements to be executed
in the future by Avtech Aviation, Inc. to its Lender to secure the
permanent loan in connection with the construction of said improve-
ments; provided, however, that any sale held by the Trustee under the
power of sale granted in the above described Builder's & Mechanic's
Lien Contract or in'any deed of trust executed by Avtech Aviation,
Inc. for the benefit of its Lender shall be subject_to all of the
terms and provisions of said Fixed Base Operator Agreements as amended,
and the Trustee shall not transfer or assign the lease or any interest
of the tenant under said lease to the purchaser at -such -deed of trust
sale without the prior written consent of the City of Lubbock,
which,�cdfisIefm,shall not be unreasonably withheld.
f 24th y E�iE-CIITED t4s the day of March 1977,
by the duly authorized officers of the City of Lubbock.
ATTEST: CITY OF LUBBOCK
<Byf �7
City Secretary -Tr surer Roy Bass, Mayor
AYPR�iT � D
B //
re 0. Senter, Jr.
City Attorney